Analyst and Investor Briefing on the First Quarter of the Fiscal Year Ending March 31, 2016 (April 1, 2005 to June 30, 2005)

Analyst and Investor Briefing on the First Quarter of the Fiscal Year Ending March 31, 2006

Overview of Performance in the First Quarter

Performance in the First Quarter

Results by Business Segment in the First Quarter

Forecasts of Business Performance in FY2006 (Full Year)

FY2006 (Full Year) Results by Business Segment

Musical Instruments

AV/IT

Electronic Equipment and Metal Products

Lifestyle-Related Products

Recreation

Other

Inventories

Capital Expenditure/Depreciation/RD Expenses

Interest-Bearing Liabilities (Actual Balance)

Balance Sheet Summary

In this report, the divs forecast for the Company's future performance have been calculated on the basis of information currently available to Yamaha and the Yamaha Group. Forecasts are, therefore, subject to risks and uncertainties. Accordingly, actual performance may differ greatly from our predictions depending on changes in operating and economic conditions, demand trends, and the value of key currencies, such as the U.S. dollar and the euro.